BTC - Every day we are getting just a little bit closer
With each day that goes by, we get just a little bit closer to the next halving
Bitcoin's next block reward halving is set to take place in May of 2020, roughly 7 months from now.
Bitcoin performed very well during the previous two halvings, both one year prior to and one year post halving.
Which puts us smack dab in the middle of those previously outstanding return periods right now.
Something we likely already knew, right?
But wait, there's more!
Digging a bit further, we see that some of the best returns during the 1 year prior to the halving period tend to happen in the 90-240 days prior-to periods:
(Source: https://twitter.com/Rptr45/status/1181188082399371265)
Cool! Why does that matter?
Well we have just now entered the 240 day pre halving period, which means if history were to repeat, we are just now entering a period that may yield some of the best returns over the next 7 months.
Interestingly enough, bitcoin tends to perform even better percentage wise during the 12 months after the halving.
Though, those numbers are a topic for another day.
Takeaway?
We are entering one of the best times to buy bitcoin according to previous cycles.
The overall theme is this:
Historically, buying bitcoin right now and holding until the halving has resulted in great returns. Buying bitcoin right now and holding for roughly one year post halving has yielded some of the best returns ever witnessed in bitcoin investing.
Will history repeat again?
Unfortunately I don't have a crystal ball, but I am hoping that even if things don't repeat exactly, we get an overall trend higher over the next 18 months for a whole host of reasons.
Two previous data points don't inspire a ton of confidence for a repeating pattern, but the logic that has caused the price gains makes a lot of sense to me, and that is still in tact.
So overall, I am hopeful. :)
We shall see either way in the next several months.
Stay informed my friends.
-Doc
Any ideas to explain this trend?
Posted using Partiko Android
I think it is mostly due to the halving itself and the issue of scarcity. People speculate that the scarcity will cause prices to rise and it sort of becomes a self fulfilling prophecy.
Miners on the whole tend to be the largest sellers of bitcoin and the amount they are able to sell gets cut in half.
That, and it seems to all be kind of tied to something like this:
ready for it, bring it!
Should be a very good 18 months for bitcoin.
When Bitcoin is $100,000, are you really going to care that you bought at $8200 vs $7950?
The decision to buy at all is much more important
Posted using Partiko Android
Nope, and very good point.
I also don't have a crystal ball, that's why I´m going all-in, so I don´t miss it!
Well, nothing ventured, nothing gained! For both our sakes, I hope your all in call pays off big time!
Indeed! Me too! :D
Just buy it goddammit, it will pump harder from this price not buying will be the regrets, yes its a highly manipulate market and yes its also a volatile market but will low market cap highly Under valued ☺
That's the hope - highly under valued.
If u take all the crap about creating content who get the highest pay eth from the blockchain u will see the gem, the major hindrance is that steem is too lose to real life scenario and its reflecting how humans actually behave. Let's see how things play out in future
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